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Botulinum Toxin Market Size, Share and Global Trend By Application (Therapeutics, Aesthetics), By End User(Specialty & Dermatology Clinics, Hospitals & Clinics), By Type(Botulinum Toxin Type A, Botulinum Toxin Type B) and Geography Forecast till 2026

Region : Global | Published Date: Jul, 2019 | Report ID: FBI100996| Status : Published

 

KEY INDUSTRY INSIGHTS

Global Botulinum Toxin Market Was Valued at US$ 4,490.0 Mn in 2018 and is Projected to Reach US$ 8,309.0 Mn by 2026, Exhibiting a CAGR of 8.0% between 2019 and 2026.

Existing market players operating in the global botulinum toxin market are focusing on constant innovation and up-gradation of their product portfolio with new and efficient product offerings for better aesthetics and improved therapeutic outcomes for the patients. One of the critical reasons for the global botulinum toxin market growth is the increasing demand for aesthetic beauty, further driven by increasing therapeutic applications for critical and chronic diseases. Increased awareness regarding botulinum toxins in both developing and developed nations, the emergence of new products, and the latest therapeutic indications are propelling the global botulinum toxin market growth. These, coupled with, increasing investments by major players in research and development for applications for botulinum toxin are also boosting the market growth. The increased demand for botulinum toxin market is also primarily driven by expanded safety profiles and the relative longevity of the product offerings. Some of the other factors which are also contributing to the botulinum toxin market growth are the increase in the geriatric population and the increased therapeutic indication such as chronic migraine and cervical dystonia. The introduction of new and advanced botulinum toxins such as Liztox, a botulinum toxin by South Korean company Huon's Global is expected to drive the botulinum toxin market growth in developed as well as emerging countries, during the forecast period 2019-2026. 

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Key Market Drivers 

The increasing R&D initiatives, combined with the increasing number of therapeutic and aesthetic indications, is expected to drive the market growth 

Botulinum toxin has several therapeutic and aesthetic indications, and this dual applicability in terms of indications are anticipated to drive the botulinum toxin market growth. Several critical and chronic diseases such as chronic migraine, spasticity, and cervical dystonia is anticipated to contribute to positive market growth. In terms of therapeutics, the botulinum toxin is estimated to have hundreds of potential indications and currently, more than 100 therapeutic uses of botulinum toxin are reimbursed by healthcare providers. This is expected to drive the growth of the global botulinum toxin market. According to the American Society of Plastic Surgeons (ASPS), in 2018, an estimated 7,437,378 botulinum toxin type A injection procedures were undertaken in the United States. More aesthetic indications of botulinum toxin apart from moderate and severe glabellar lines are anticipated to be tested for regulatory approvals in the upcoming years. 

Market Segmentation

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On the basis of application, the global botulinum toxin market segments include therapeutics (chronic migraine, spasticity, overactive bladder, cervical dystonia, blepharospasm, others), and aesthetics. The aesthetic segment accounted for 42.6% share of the global botulinum toxin market in 2018. 

On the basis of end-user, the global botulinum toxin market segments include specialty & dermatology clinics, hospitals & clinics, and others. On the basis of type, the market segments include botulinum toxin type A and botulinum toxin type B. 

Regional Analysis 

Recent regulatory approvals in the U.S., combined with adequate reimbursement policies, are driving the adoption of Botulinum Toxin products in North America 

There is an increasing demand for botulinum toxin for the treatment of an increasing number of therapeutic indications in North America, owing to rising prevalence of chronic diseases such as chronic migraine and cervical dystonia, and increasing R&D efforts for the approval of new therapeutic and aesthetic indications. These factors are anticipated to lead to an increasing number of regulatory approvals for botulinum toxin products. This, along with adequate reimbursement policies in the region, are factors responsible for the dominant share of North America in the global botulinum toxin market in 2018. In Europe, the market is estimated to assert a dominant position, and in the Asia Pacific, the global botulinum toxin market is anticipated to grow at a higher CAGR. In Latin America, the number of botulinum toxin injection procedures are estimated to be high, especially in Brazil and in the Middle East & Africa, the number of botulinum toxin injection procedures are estimated to increase. 

North America Botulinum Toxin Market Size, 2018

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Key Players 

The high barriers to entry with specialized and highly regulated biologic and a highly regulated manufacturing process has led ALLERGAN and Ipsen Pharma to lead the global market 

The current global botulinum toxin market is consolidated owing to the strong portfolio and diverse product offerings by major players in the botulinum toxin products space. ALLERGAN, Ipsen Pharma, and Merz Pharma are among the leading players in the botulinum toxin market. A well-established brand presence and a strong distribution channel have been instrumental in the success of these players in the market. Other market players include Medytox, US WorldMeds, LLC (Solstice Neurosciences, LLC), Galderma laboratories, Lanzhou Institute of Biological Products Co., Ltd., and Revance Therapeutics, Inc.  

Report Coverage  

An increasing number of new approvals for indications such as therapeutics and aesthetics are factors leading to increasing demand for new and advanced botulinum toxin products in the global market. Players are focusing on R&D to innovate their product offerings with improved clinical efficiency. This is projected to lead to an increasing number of new products entering the botulinum toxin market during the forecast period. However, comparatively the adverse effects associated with sub-standard botulinum toxin is one major factor projected to restrain the adoption of these products in emerging countries such as China.   

The report provides qualitative and quantitative insights on botulinum toxin industry trends and detailed analysis of market size & growth rate for all possible segments in the market. The botulinum toxin market segments include application, end-use, and type. On the basis of application, the global botulinum toxin market is further segmented into therapeutics (chronic migraine, spasticity, overactive bladder, cervical dystonia, blepharospasm, and others) and aesthetics. On the basis of end-user, the global botulinum toxin market is segmented into specialty & dermatology clinics, hospitals & clinics, and others. On the basis of type, the global botulinum toxin market is segmented into botulinum toxin type A, and botulinum toxin type B. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries. 

Along with this, the report analysis comprises of market dynamics and competitive landscape. Additionally, the report offers insights on the Overview of the Number of Botulinum Toxin Injection Procedures by Key Countries, Overview of the Regulatory Scenario by Key Countries, Pricing Analysis, Overview of the Types of Botulinum Toxins, Pipeline Analysis, Overview of New Product Launches, Overview of Applications of Botulinum Toxin in Therapeutics and Recent Regulatory Approvals, and Overview of the Reimbursement Scenario by Key Countries. 

Botulinum Toxin Market Segments

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SEGMENTATION 

 SEGMENTATION

 DETAILS

By Application

·         Therapeutics

o      Chronic Migraine

o      Spasticity

o      Overactive Bladder

o      Cervical Dystonia

o      Blepharospasm

o      Others

·         Aesthetics

By End User

·         Specialty & Dermatology Clinics

·         Hospitals & Clinics

·         Others

By Type

·         Botulinum Toxin Type A

·         Botulinum Toxin Type B

By Geography

·      North America (USA and Canada)

·      Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

·      Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

·      Latin America (Brazil, Mexico and Rest of Latin America)

·      Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

 

Botulinum Toxin Market Companies

  • ALLERGAN
  • Ipsen Pharma
  • Merz Pharma
  • Medytox
  • US WorldMeds, LLC (Solstice Neurosciences, LLC)
  • Galderma laboratories
  • Lanzhou Institute of Biological Products Co., Ltd.
  • Revance Therapeutics, Inc.  

Key Industry Developments

  • In June 2019, the South Korean company announced the launch of Liztox, a botulinum toxin in Korea for the treatment of moderate to severe glabellar wrinkles
  • In February 2019, the U.S. FDA approved Evolus Inc’s cheaper alternative of botulinum toxin for the treatment of frown lines

 


Botulinum Toxin Market Size, Share and Global Industry Trend Forecast till 2026
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